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What does it even mean to audit a company that doesn’t follow or reconcile to GAAP (or equivalent)? Are there examples in any other industries?
by mtremsal 4y ago
What does it even mean to audit a company that doesn’t follow or reconcile to GAAP (or equivalent)? Are there examples in any other industries?
- vkou 4y agoIt means you told the auditor how you want to be audited, and they did it. Generally speaking, if you look hard enough, you could find an auditor that will happily audit your number of nosehairs, or talking parrots, or not ask too many questions about whether or not your shitcoins reserves are actually worth XY billion. You may need to scrape the bottom of the barrel for that, though.
- mtremsal 4y agoMazars is supposed to be quite reputable. How they would agree to this, and endanger their entire firm, is beyond me. But then again, plenty of VCs also agreed to lend their reputation (and capital) to crypto firms with opaque finances and governance… I hope this turns into a lasting scarlet letter.